Ore-Leave Capital (OLV-V) has been successful in extending the strike length of gold mineralization along the Rothmundy vein system at its Baia Sprie project in northern Romania.
The most recent results from 9 holes drilled in a couple of areas, along the Rothmundy vein system, tested the Poni excavation and Poni shaft area in the west and the Screper pit area, about 500 metres to the east.
Highlighting drilling in the Poni shaft area is an intersection grading 8.15 grams gold per tonne and 30 grams silver per tonne over 6.0 metres. This included a 1.0-metre intercept grading 15.84 grams gold per tonne and 65 grams silver per tonne.
Drill holes were spaced at 25 to 50 metres apart, following the strike of the system. One hole, drilled in the Poni excavation area, intersected 1.4 metres grading 4.71 grams gold per tonne and 153 grams silver per tonne. In another hole, high-grade silver (360 grams per tonne) was intersected, along with 1.28 grams gold per tonne, over a width of 0.8 metres.
Gold mineralization, as defined by nine drillholes, indicates a 300-metre strike length to the zone.
The western limit of the Screper pit zone was defined by 2 holes that did not intersect any significant gold. The zone is now known to be continuous over 170 metres and is open at depth. Previous drilling resulted in intersections up to 3.39 grams gold per tonne over 23.0 metres.
The company will estimate a resource based on results of the current drilling.
The Baia Sprie project lies within the Baia Mare Mining district, which hosts 25 ore deposits. There are numerous ore-processing facilities in the area that may process ore on a contract basis thereby making small deposits profitable.
The project area is at the eastern end of an 8-km long east-northeast striking shear zone in a regional-scale east-west trending fault zone.
Ore-Leave also owns 100% of the Oravita exploration license, in southwestern Romania. It covers a 32-km long portion of the Banat Porphyry Belt.
Ore-Leave entered the Carpathian Arc region exploration-scene by buying 99.4% of Carpathian Gold in 2003. Carpathian Gold is now a subsidiary of Ore-Leave.
The Baia Mare joint venture covers two contiguous exploration licenses held 75% by a Romanian subsidiary of Ore-Leave and 25% by the Romanian State Mining Company, REMIN. There are eight operating underground mines, covered by five mining licenses within the exploration licenses. These are held by REMIN, but the joint venture allows for exploration inclusive of the mine areas.
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